CS Global Partners unveils 3rd World Citizenship Report highlighting 'Responsibility' theme

The WCR is an industry first endeavour to investigate the value of citizenship through the lends of the global-minded individuals. This significant report is released annually by the world's leading government advisory and marketing firm based in London - CS Global Partners.

Friday, 24th May 2024

CS Global Partners unveils 3rd World Citizenship Report highlighting 'Responsibility' theme

The 3rd edition of the most anticipated World Citizenship Report (WCR) 2024 has been launched under the title of - The Shared Pursuit of Global Citizens. The report ranked Ireland at the top, while Switzerland and Denmark secured 2nd and 3rd positions respectively. The WCR is an industry first endeavour to investigate the value of citizenship through the lends of the global-minded individuals. This significant report is released annually by the world's leading government advisory and marketing firm based in London - CS Global Partners. [caption id="attachment_71662" align="aligncenter" width="354"]

Much anticipated World Citizenship Report released by CS Global Partners[/caption] The 2024 edition of the first-of-its-kind report has been unveiled with the theme of 'Responsibility, Peace, Freedom' which aligns perfectly with its overall goal of shedding light on the electoral responsibility. While launching this year's report, CEO of CS Global Partners, Micha-Rose Emmett outlined, "Four billion souls will be voting in an election this year. That's half the world's population, exercising their rights. Some elections will be fairer than others, but the fact still stands - we are witnessing the greatest democratic moment in history." "In this third edition of the World Citizenship Report (WCR), we declare, with great electoral choice comes great responsibility," she further noted while providing insights into this year's report.

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The report stated that this year, global citizens are experiencing responsibility in one of its purest and most acute forms: electoral responsibility, with 50% of the world's population voting in an election. These elections span the globe from Bangladesh and India in the East to the United Kingdom, European Union, and United States in the West. According to the WCR 2024, deep electoral change which is in the hands of global citizens has already prompted questions of migration, geopolitical instability, warfare and climate change and above all, these changes concern obligations to the community, nation and the wider world. Notably, the World Citizenship Report strives to be a data driven tool in order to understand the chaotic, often contradictory as well as demanding responsibilities of global citizens. The report has considered five modes of analysis known as 'motivators' to consider the value of citizenship through the lens of a global citizen. [caption id="attachment_71663" align="aligncenter" width="675"]

Top 20 Global WCI rankings[/caption] The WCR goes beyond a simple ranking of passports to instead rank citizenships on the basis of these motivators: Quality of Life, Safety and Security, Economic Opportunity, Global Mobility and Financial Freedom.

Findings of World Citizenship Report 2024

The report featured the World Citizenship Index which is an innovative tool that takes a holistic approach to rank the citizenships of the world across multiple dimensions. The WCR's unique methodology evaluates 188 nationalities across five motivators of citizenship based on their value to discerning investors and high net worth individuals (HNWIs) across the globe. This year World Citizenship Report has ranked Ireland on the top with a score of 86.6 while Switzerland and Denmark stand at 2nd and 3rd positions with 86.0 and 84.6 scores respectively.

Motivators driving World Citizenship Index

Safety and Security
Economic Opportunity
Quality of Life
Global Mobility
Financial Freedom

In the survey of over 500 HNWIs, the report found that Quality of Life was the most important factor for them with 36.9 percent of participants saying that they look for this factor while considering citizenship. Monaco, Denmark, and Hong Kong took the top spots for Quality of Life in 2024, showing the highest possible standard of living and wealth these destinations can offer to all their citizens.

Quality of Life was HNWIs' top concern when considering a second citizenship, and for good reason – World Citizenship Report 2024

The research clearly indicated that the issues which lend themselves to an improved quality of life matter more than ever to HNWIs. The report also mentioned that when asked, 'In what areas, if any, do you feel your current government is failing?' respondents indicated that healthcare, environmental sustainability, and a competitive economy were needs that were not being met by their governments.

The report also showed that Safety and Security continued to be an important factor for HNWIs. As the wars broke out in the Middle East and continued in Europe, this factor became increasingly important among the wealthy individuals of the world.

Interestingly, when asked 'what is the first thing that comes to mind when they hear the word citizenship?', the survey respondents overwhelmingly indicated that 'rights under the law' and 'safety' were the primary concerns. Over 55% of respondents chose this factor as to when considering for citizenship. On the other hand, less than 20 percent of high net worth individuals (HNWIs) think that the most important aspect of alternative citizenship is having access to countries or traveling more frequently. This shows the individuals' lesser interest in freedom to travel while considering citizenship. Meanwhile, the economic prospects of 2024 may look more promising than the previous two years. The survey of HNWIs was consistent with the Economic Opportunity motivator findings, indicating that HNWIs are concerned about currency stability and political stability when considering the value of citizenship. Outlining the motivator of Global Mobility, the report discovered certain peculiar facts showcasing that only 9.4% of high-net-worth individuals look for freedom of travel for purposes of relocation, while a whopping 40.5% of people said that they look for this factor for leisure or pleasure purposes.

In the motivator of Financial Freedom, the WCR survey found that 40.5% of people find the ability to more effectively manage their investments, wealth planning, and portfolio diversification would be a prime factor for citizenship. Like last year, Denmark takes the top spot as the most financially free state in the index. Singapore and Hong Kong have also performed exceptionally well for this motivator with 2nd and 3rd rankings. Download the full World Citizenship Report 2024 here This comprehensive report released by CS Global Partners sheds light on investment, political and economic analysis of the most coveted citizenships, along with handy rankings of citizenships by each motivator which gives the individuals seeking an alternative citizenship insights into the value of citizenship and what it has to offer based on security, economics, mobility and beyond.